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<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/fb688b008bb7449c9fb96e0151f4e5b9.jpg" />Number of transactions and operations for July 2023&#x1f539; Transactions: 58M&#x1f539; Operations 556MLet’s take a closer look at the entire life path of a transaction in Stellar<h2 id="header-0">Stellar Operations and Transactions: How They Work</h2>To perform account actions on the Stellar network, you compose transactions, combine them into a transaction, and then sign and send the transaction to the network.Operations are individual commands that modify the registry. Transactions are used to send payments, enter orders into the decentralized exchange, change account settings, and authorize accounts to hold assets.The Stellar network encodes transactions using a standardized protocol called External Data Representation (<a href="https://developers.stellar.org/docs/encyclopedia/xdr" rel="noopener noreferrer nofollow">XDR</a>).<h2 id="header-1">Accounts can only perform one transaction at a time</h2>Transactions include from 1 to 100 transactions, are signed and sent to the account ledger. Transactions must always be authorized by the source account’s public key in order to be valid, which includes signing the transaction object with the private key associated with the public key. A transaction plus its signature(s) is called a transaction envelope.A transaction may require more than one signature - this happens if it has transactions that affect more than one account, or if it has a high threshold weight.Stellar transactions are atomic. This means that if one operation in a transaction fails, all operations fail and the entire transaction is not applied to the ledger.The fee must be greater than or equal to the minimum network fee for the number of transactions sent within the transaction. This does not guarantee that the transaction will be applied, only that it is valid.In addition, the original account must be able to pay the said fee. If multiple transactions are presented, but only a fraction of them can be paid, they are checked for validity in numerical order.<h2 id="header-2">Transaction lifecycle</h2>1. CreateThe user creates a transaction by setting the source account, sequence number, list of transactions and their respective parameters, fee or commission, and, if necessary, memo and/or preconditions.2. SigningWhen a transaction is completed, it becomes a transaction envelope containing the transaction itself and a list of signers. All necessary signatures must be collected and added to the list of signers of the transaction envelope. This is usually just the signature of the account performing the transaction, but more complex settings may require the collection of signatures from multiple parties.3. SendingOnce signed, the transaction can now be sent to the Stellar network. If the transaction is invalid, it will be rejected immediately by Stellar Core, the account number will not be incremented, and no fees will be charged to the original account. You can submit multiple transactions for the same account, as long as each sequence number differs by one (unless minimum sequence number preconditions are set).If they are all valid, Stellar Core will create a set of transactions in which each of these transactions will be applied in serial number order. Transactions are usually sent using Horizon, but you can also send a transaction directly to a Stellar Core instance.4. DistributionOnce Stellar Core determines that the transaction is valid, it will propagate the transaction to all other servers it is connected to. Thus, the actual transaction is broadcast throughout the Stellar network.5. Creation of a set of candidate transactionsWhen it comes time to close the ledger, each Stellar Core validator takes all the valid transactions it knows about since the last ledger was closed and assembles them into a set of candidate transactions. If it now learns of any incoming transactions, it postpones them until the next ledger close. If the number of transactions in the set of candidate transactions exceeds the maximum number of transactions in the ledger, the priority of the transactions will be determined by their inclusion fee.6. Assigning a set of transactionsAfter each validator has created a set of candidate transactions, this set is nominated on the network.7. Stellar Consensus Protocol (SCP) defines the final set of transactionsThe SCP resolves any differences between sets of candidate transactions and ultimately determines one set of transactions to apply, the registry close time, and any protocol updates that need to be applied across the entire network at the time of application.If the transaction does not fall into the transaction set, it is kept in memory to be added to the next transaction set when possible.If a transaction persists in memory after a certain number of registries are closed, it will be blocked for several additional registries. This means that during this time, no attempt will be made to include it in the additional register of candidate transactions.8. The order of application of the transaction is determinedOnce the SCP negotiates a particular set of transactions, the application order for that set of transactions is calculated. This shuffles the dial order to create ambiguity for competing transactions, and maintains sequence number order across multiple transactions per account.9. Fees are chargedCommissions are charged for all transactions at the same time.10. ApplicationEach transaction is applied in a predetermined order. For each transaction, the account’s sequence number is used (incremented by 1), the validity of the transaction is rechecked, and each operation is applied in the order in which they occur in the transaction. At this point, operations may fail due to errors that may occur outside of the validation of the transaction and the operation. For example, insufficient balance for payment is not checked when sending and will not be executed this time. If any operation fails, the entire transaction will fail and all previous operations will be undone.<h2 id="header-3">Thank you for reading to the end!</h2>We plunged with you into the very depths of the Stellar transaction device. Passed the entire life cycle of transactions and operations. A better understanding of how Stellar works leads to greater flexibility and the boldness of your revolutionary ideas that you can bring to life using the power of Stellar.Although we have dived into the thick of technical details, on the surface, for users, everything looks much simpler. All this complexity is simplified by Stellar wallets, whose developers build minimalistic friendly interfaces and make it as easy as possible for users to work with the Stellar Network.If you don’t have a Stellar wallet yet, you can create one in a couple of minutes in Scopuly Wallet. It’s a DeFi Stellar wallet and DEX that doesn’t ask you for your personal data (not even an email is needed) and doesn’t store your private keys. In Scopuly Wallet, you can securely store crypto, make cross-border and mass payments, issue tokens and trade different tokens on SDEX, earn on AMM by providing your assets to Stellar <a href="https://scopuly.com/pools" rel="noopener noreferrer nofollow">liquidity pools</a>.<a href="https://medium.com/&#64;scopulyplatform" rel="noopener noreferrer nofollow">Subscribe</a> if the article was useful to you!

Anatomy of Stellar Transactions and Operations: How They Work

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